[180 Pages Report] The Quick Service Restaurant Market size was estimated at USD 340.03 billion in 2023 and expected to reach USD 367.34 billion in 2024, at a CAGR 8.51% to reach USD 602.51 billion by 2030.
Quick-service restaurants (QSRs) are restaurants that focus on convenient food service by offering menu items such as burgers, sandwiches, salads, wraps, and other similar foods that can be prepared and served fast. Customers appreciate the speed of service QSRs provide, and many QSRs offer various promotions and discounts, which helps draw customers. The quick-service restaurant (QSR) industry has seen an increase in popularity amongst young consumers due to the convenience of fast food. There have been efforts to improve customer satisfaction through seasonal additions of new dishes and drinks by QSR outlets. Despite this growth, high operating costs and concerns associated with maintaining food quality and consistency control impede the market growth. QSRs widely focus on product quality assurance to achieve a trusted customer base, and market players constantly invest in franchising and marketing to expand their global presence. QSRs are adopting self-service and AR/VR technologies to engage their customers better while providing loyalty programs and avid discounts on food and drinks.
Product: Preferences of customers towards attractive foods
Quick services restaurants (QSRs) offer a variety of food products to make their menu attractive and globally adopted. Hamburgers offered by QSRs are typically made with a ground beef patty and other ingredients such as lettuce, tomatoes, onions, pickles, sauces, and condiments. Pizzas offered at QSRs are designed in many different ways and usually include dough, sauce, and a variety of toppings, including vegetables, cheeses & meats. Sandwiches are prepared with two slices of bread holding various types of meats, cheeses, vegetables, and condiments such as mayonnaise or mustard. Tacos and burritos are Mexican-inspired dishes that have become popular in quick service restaurants. Tacos are typically small corn or flour tortillas filled with various ingredients, such as spicy meats, refried beans, lettuce, tomatoes, and cheese. Meanwhile, burritos are usually large flour tortillas filled with various ingredients, including spicy meats, refried beans, rice, vegetables, and sauces.
Cuisine Type: Demand for fast foods, such as burgers and hotdogs in american cuisine
American cuisine includes a variety of fast foods, such as burgers and hotdogs, made from potatoes, corn, and meat. In addition, regional variations in American cuisine include southern comfort food products such as fried chicken and barbecue. Chinese cuisine is characterized by its fresh ingredients and focuses on harmony between sweet, sour, bitter, salty, and umami flavors. Popular Chinese meals and dishes include stir-fry, dim sum, dumplings, noodles, and egg rolls. Quick service restaurants (QSRs) offer a variety of popular French cuisine, including steak frites, onion soup, coq au vin, and ratatouille. Greek cuisine offered at QSRs mainly consists of various vegetables, herbs, and spices to create traditional favorites such as moussaka, spanakopita, and souvlaki. Indian cuisine at QSRs features an abundance of vegetarian options along with classic dishes such as tandoori chicken and naan bread. Flavors are bold and often spicy due to chilies and various blends of spices, including curry powder and garam masala. Italian cuisine is characterized by using high-quality ingredients, including olive oil, tomatoes, fresh produce & herbs, to create classic dishes such as pasta carbonara & risotto alla Milanese. Furthermore, Japanese cuisine focuses on the balance between sweet & savory flavors with a focus on freshness & light cooking techniques such as grilling or steaming in dishes, including sushi & tempura. Spanish cuisine features an abundance of seafood along with flavorful stews such as paella & cocido madrile?o. Popular Spanish dishes include patatas bravas (spicy potatoes) & gazpacho (cold tomato soup). Turkish & Lebanese cuisine features grilled meats and salads served with lemon juice or pomegranate molasses dressing, such as tabouli or fattoush salad. Classic Turkish and Lebanese dishes include hummus & falafel wrap served in pita bread or lahmacun. Mexican cuisines combine Mesoamerican cooking with Spanish elements, such as wheat and dairy products, also known for its variety of spices, sauces, and flavors, including chilies, corn, and beans as main ingredients.
Structure: Increasing chained quick service restaurant networks capturing large consumer base
Chained QSRs are restaurants part of a larger franchise and typically offer standardized menus, d?cor, pricing, and operational systems. These restaurants are usually located in high-traffic areas such as shopping malls, airports, or highways and often have recognizable branding and uniform staff that follow specific standards and practices. On the other hand, independent QSRs are restaurants that operate without the backing of a large brand or franchisor. These establishments have unique menus, decorations, pricing structures, and operations. Owners of private restaurant establishments often innovate with new concepts and culinary offerings to captivate their guests, primarily catering to local clientele.
Service Type: Adaptability towards Home Delivery services
Drive-through QSRs allow customers to order and receive food without leaving their vehicles. Customers simply place their order at an exterior speaker box and then pick up their meal at an outdoor window. Eat-in restaurants allow customers to eat in the restaurant’s dining area, and these establishments frequently offer a full menu with various options, from burgers to salads. Full-service and casual dining restaurants are seeing healthy on-premise business, with the major popularity driven by different cuisine options and the travel industry. Home delivery services are significantly growing in popularity as they allow customers to order food from the restaurant and deliver it directly to their home or other locations. This type of service is becoming popular as more restaurants offer delivery through online delivery apps. Takeaway restaurants provide customers the convenience of purchasing pre-made meals that can be enjoyed at a different time or place, often outside the restaurant premises. Customers usually place orders over the phone or online for pickup at a designated time or when they arrive at the restaurant for pickup.
Regional Insights
The QSR market is constantly advancing in the Americas region, driven by the presence of established convenient food chains and the preference of the local population to consume outside fast-food. The rise of food delivery and digital transformation has further assisted in elevating the market growth in the region. The regional players in the U.S. and Canada are also providing diverse offerings to meet the preference of different countries and ethnicities. Europe, characterized by well-recognized independent and franchise-based QSRs, is shifting to health-conscious and ethical options. The region has a strong travel industry across France, Italy, and the UK, enabling players to achieve a larger customer base. The inclination of the youth population towards low-priced, easy-to-go menus and eating options and increased participation of women in the workforce, rising living standards in cities such as London, Seoul, Shanghai, Los Angeles, Mumbai, and others provide considerable scope for the expansion of QSRs. The U.S. and Europe have also started to introduce tools that enable them to administer and assure service quality standards within quick-service restaurants.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Quick Service Restaurant Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Quick Service Restaurant Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Quick Service Restaurant Market, highlighting leading vendors and their innovative profiles. These include American Dairy Queen Corporation, Big Boy Restaurant Group LLC, Bojangles’ Restaurants, Inc., Carl’s Jr. Restaurants LLC, Chick-fil-A, Inc., Chipotle Mexican Grill, Inc., Church’s Texas Chicken, Culver Franchising System, LLC, Domino’s Pizza Inc., Drunken Monkey, Fireaway Pizza, Hunt Brothers Pizza, LLC, Inspire Brands, Inc., Jack in the Box Inc., Little Caesar Enterprises, Inc., Long John Silver’s, LLC, McDonald’s Corporation, Panda Restaurant Group, Inc., Panera Bread, Papa John’s International, Inc., Quiznos, Restaurant Brands International Inc., Starbucks Corporation, Steak n Shake Enterprises, Inc., Subway, The Wendy’s Company, Whatabrands LLC, Wok&Go Franchise Uk Limited, Yum! Brands, Inc., Y?rpas Y?resel G?daler Pazarlama A.?., and Zaxby’s SPE Franchisor LLC.
Market Segmentation & Coverage
This research report categorizes the Quick Service Restaurant Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Product
- Hamburgers
- Pizzas
- Sandwiches
- Tacos & Burritos
- Cuisine Type
- American Cuisine
- Chinese Cuisine
- French Cuisine
- Greek Cuisine
- Indian Cuisine
- Italian Cuisine
- Japanese Cuisine
- Mexican Cuisine
- Spanish Cuisine
- Turkish & Lebanese Cuisine
- Structure
- Chained
- Independent
- Service Type
- Drive-Through
- Eat-In
- Home Delivery
- Take Away
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Quick Service Restaurant Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Quick Service Restaurant Market?
- What are the technology trends and regulatory frameworks in the Quick Service Restaurant Market?
- What is the market share of the leading vendors in the Quick Service Restaurant Market?
- Which modes and strategic moves are suitable for entering the Quick Service Restaurant Market?
US $
Euro €
GBP £